Water heaters · electric storage

Electric storage water heater replacement cost

For a 50-gallon electric storage water heater at UEF 0.93, the certified national retrofit benchmark is $1,613.12 (2023 USD) low, $1,861.92 (2023 USD) typical, and $2,119.57 (2023 USD) high.

Source year. Based on NREL’s Residential Efficiency Measures Database (2024 workbook) in 2023 dollars.

Geographic scope. United States national modelled benchmark.

Model scope. Electric storage tanks only. This slug is the generic replacement URL, but the certified model is not gas, heat-pump, or tankless.

Important limitation. Do not read these figures as the cost of every water-heater technology, or as a 2026 plumber’s bid.

Certified benchmark values

Certified 2023 USD figures for this page. Missing bands are unpublished, not estimated.
Band	Value
installed low	$1,613.12 (2023 USD)
installed typical	$1,861.92 (2023 USD)
installed high	$2,119.57 (2023 USD)

Benchmark estimator

Results are modelled 2023 USD benchmarks, not a contractor quote.

Modelled benchmark: Low $1,613.12 (2023 USD); typical $1,861.92 (2023 USD); high $2,119.57 (2023 USD)

Source year: 2023 USD
Scope: Water Heater Electric Storage, national retrofit modelled in 2023 dollars
Limitation: Not a local contractor quote. Inputs outside the published bounds fail closed.
Basis: Water Heater Electric Storage retrofit modelled in 2023 dollars
Matches the certified evaluation point on this page.

What this estimate includes

REMDB retail regression on UEF and gallons
Retrofit installation adder from the same workbook

What moves the number

Tank volume (27–55 gallons in the workbook)
Uniform Energy Factor (0.92–0.95)
New-construction vs retrofit adder; this page uses retrofit

Methodology and sources

The equation is the published REMDB Electric Storage row, evaluated as a retrofit.
50 gallons and UEF 0.93 are in-domain evaluation points, not a Census typical tank.
EIA equipment tables are a directional cross-check in 2022 dollars and are not averaged in.

Primary source: National Residential Efficiency Measures Database 2024.

Limitations

2023$ historical REMDB retrofit benchmark, not a 2026 contractor quote.
REMDB may include upstream RSMeans/retail-derived inputs; cite REMDB only.
Scoped to electric storage. Does not certify gas, HPWH, or tankless totals.
50 gallons / UEF 0.93 is an in-domain evaluation point, not a Census typical.

Questions this evidence can answer

I need a heat-pump or tankless number.

Use the separate certified pages for those equipment classes. Their equations are independent.